The business community is relieved that the horror of a flat 18% CGT is to be cushioned by a £100,000 tax exempt threshold – Osborne is deriding Darling’s Halloween retreat “Alistair Darling has heaped confusion on incompetence. Only three weeks ago, the Chancellor announced big tax increases for small businesses and entrepreneurs… The government has performed so many u-turns it doesn’t know which way it’s facing.”
This follows the news that the government is dropping the planned trick to claw back 5% from school budgets. Guido has no idea where we are now with the pay – as – you – throwmicro-chipped-Bin-Brother-spy policy. Guido can confirm however that there is no truth in the rumour that at midnight Ed Balls will turn into a pumpkin.